Governor of the Austrian National Bank visits CBBiH

(Patria) - A delegation of the Austrian National Bank, led by Governor Martin Kocher, paid a visit to the Central Bank (CB) of Bosnia and Herzegovina.

At the meeting with the CBBiH Management Board, headed by Governor Jasmina Selimović, discussions were held on the global economic and financial situation, the modernisation of BiH's payment system through the process of joining the Single Euro Payments Area (SEPA), and the TIPS Clone instant payment project.

The trilateral cooperation between CBBiH, the Austrian National Bank and the Croatian National Bank, as well as financial education projects, were also discussed.

Governors Selimović and Kocher assessed the long-standing and very fruitful cooperation between the two central banks as extremely successful.

Particular emphasis was placed on the support of the Austrian National Bank in strengthening the institutional and professional capacities of CBBiH, including the areas of statistics, economic analyses, financial stability, risk management and digitalisation, and they jointly participated in programmes of the European Central Bank, the European Union and the European System of Central Banks.

- Cooperation with the Austrian National Bank is of particular importance for CBBiH, not only because of the professional ties between our institutions, but also because of the concrete support we have received through joint programmes and the exchange of expertise in the process of strengthening our capacities and approaching European standards.

I believe that this cooperation will remain an important pillar in the further institutional development of CBBiH in the coming period - stated Governor Selimović.

The Austrian delegation expressed full support for the reform efforts led by CBBiH, and emphasised that an independent and stable Central Bank is key for the economic development and European path of BiH.

- We discussed topics of mutual interest, including the geopolitical and geoeconomic situation, the stability of financial markets, developments in the area of monetary policy, as well as opportunities for further deepening cooperation between our two central banks.

I am particularly pleased that we have identified new opportunities for cooperation in the area of financial literacy, as well as for the exchange of knowledge and experiences between our institutions - said Governor Kocher.

During the meeting, it was also highlighted that Austria is one of the most important economic partners of Bosnia and Herzegovina and one of the leading foreign investors, especially in the financial sector.

It was also emphasised that Austrian investments have contributed to the modernisation of the banking sector in Bosnia and Herzegovina, the introduction of new technologies and business practices, as well as the overall economic development of the country.